Recently while reading on Peter Schiff blog, I came across another investor by the name Marc Faber. He is definately an interesting character, smart and very outspoken.

Introduction to Marc Faber
Dr Marc Faber also known as Dr Doom is a world renowned investor and publisher of the Gloom Boom and Doom report. He is well known for correctly predicting many stock market moves and his honest approach to the markets. Contrary to his nick name, he is also bullish at times.

"What will eventually happen is that the market forces will destroy central banks. It's actually interesting, based on the losses that the Federal Reserve already has, they have now negative equity. Of course they don't go bankrupt because they can basically print money - but it is where the commercial enterprises would be bankrupt."

As Faber mentioned the Fed would go bankrupt with current policies but personally I dont think they should go bankrupt because that could mean economic meltdown and collapse of the US society. I am caught in a conflict of emotions as I think at the same time the Fed should promote equality and fairness. If a US small business or a person cannot pay his/her bills, it is in trouble, however the unfairness is the Fed is never in that situation as it simply just creates money out of thin air. Probably the people at the Fed simply click on their computer to generate money and poof in a matter of seconds the Fed now has an extra few millions.

Economics is the science that deals with the studying of production and consumption through measurable ways. Economics deals with analyzing the manufacture, distribution, buying and selling, and finally consumption/use of goods and services.

There are two types of economics:
1. microeconomics - Mostly for with individuals and/or such as households and businesses
2. macroeconomics - Used while considering the economy as a whole companies, nations, regions etc.

So you may be wondering why I am as a student interested in Economics. This is because there is a lot of correlation between economic growth and human development. We all want to grow as a person. Now in the modern age we have to consider economics as a vital tool to get growth and economic development.

America needs good economists now more than ever. In this age of financial uncertainty and globalization we need to be more competitive. I'm a regular reader of the financial news and try to listen as much as I can to educate myself. I believe people such as Jim Rogers, Peter Schiff, Nouriel Roubini are the real economists. So when I hear them make sad comments our great nation, it is disheartening. Peter Schiff in a blog post commented, "We don`t have a balanced trading relationship. America imports all sorts of goods, valuable consumer goods and resources and we export debt, we export paper, inflation." (1)